CAPITAL TRANSACTIONS	9 Months Ended
Sep. 30, 2014
CAPITAL TRANSACTIONS [Abstract]
CAPITAL TRANSACTIONS	NOTE 9 ¾ CAPITAL TRANSACTIONS In May 2013 Capstead completed a public offering of 6.8 million shares ($170.0 million face amount) of its 7.50% Series E Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share. The Series E preferred shares are redeemable at the Company’s option for $25.00 per share, plus any accumulated and unpaid dividends, on or after May 13, 2018. Proceeds of the offering after underwriting fees and other costs totaled $164.3 million and together with $42.7 million of cash on hand were used to fund the June 2013 redemption of the Company’s Series A and B perpetual preferred shares. The preferred shares that were redeemed had redemption preferences aggregating $207.0 million, a total of $19.9 million in excess of these shares’ recorded amounts on the Company’s balance sheet. This redemption preference premium is reflected as a $0.21 per common share reduction in net income available to common stockholders on the face of the Company’s Statements of Income for the nine months ended September 30, 2013. In late 2013 the Company began issuing additional Series E preferred shares through an at-the-market continuous offering program. During the quarter and nine months ended September 30, 2014, the Company issued 105,000 and 683,000 Series E preferred shares at average prices of $23.82 and $23.94, net of expenses, for net proceeds of $2.5 million and $16.3 million, respectively. No Series E preferred shares were issued subsequent to quarter-end through November 5, 2014. Between November 2012 and January 2013, the Company repurchased 3.6 million common shares at a cost of $42.4 million pursuant to a $100 million common share repurchase program. In July 2014 this program was suspended indefinitely. Additional amounts of Series E preferred capital and new common equity capital may be raised in the future under continuous offering programs or by other means, subject to market conditions, compliance with federal securities laws and blackout periods associated with the dissemination of earnings and dividend announcements and other important Company-specific news.

NOTE 9 ¾ CAPITAL TRANSACTIONS

In May 2013 Capstead completed a public offering of 6.8 million shares ($170.0 million face amount) of its 7.50% Series E Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share. The Series E preferred shares are redeemable at the Company’s option for $25.00 per share, plus any accumulated and unpaid dividends, on or after May 13, 2018. Proceeds of the offering after underwriting fees and other costs totaled $164.3 million and together with $42.7 million of cash on hand were used to fund the June 2013 redemption of the Company’s Series A and B perpetual preferred shares. The preferred shares that were redeemed had redemption preferences aggregating $207.0 million, a total of $19.9 million in excess of these shares’ recorded amounts on the Company’s balance sheet. This redemption preference premium is reflected as a $0.21 per common share reduction in net income available to common stockholders on the face of the Company’s Statements of Income for the nine months ended September 30, 2013.

In late 2013 the Company began issuing additional Series E preferred shares through an at-the-market continuous offering program. During the quarter and nine months ended September 30, 2014, the Company issued 105,000 and 683,000 Series E preferred shares at average prices of $23.82 and $23.94, net of expenses, for net proceeds of $2.5 million and $16.3 million, respectively. No Series E preferred shares were issued subsequent to quarter-end through November 5, 2014.

Between November 2012 and January 2013, the Company repurchased 3.6 million common shares at a cost of $42.4 million pursuant to a $100 million common share repurchase program. In July 2014 this program was suspended indefinitely.

Additional amounts of Series E preferred capital and new common equity capital may be raised in the future under continuous offering programs or by other means, subject to market conditions, compliance with federal securities laws and blackout periods associated with the dissemination of earnings and dividend announcements and other important Company-specific news.